Question

question 2 (mandatory) (3.0303 points)
when the economy is in recession, jobs are generally harder to find and more people go to college. we can conclude that the opportunity cost of

a) going to college decreases when the economy is in recession.

b) going to college increases when the economy is in recession.

c) going to college is always higher than the opportunity cost of working.

question 3 (mandatory) (3.0303 points)

Explanation:

Opportunity cost of college includes the foregone wages from working. In a recession, jobs are scarce, so the potential income a person gives up to attend college (the main opportunity cost) is lower. This makes college more attractive, matching the observed trend of more people enrolling during recessions. Option b is incorrect because the opportunity cost falls, not rises. Option c is incorrect as opportunity costs depend on context and are not always higher for college.

Answer:

a) going to college decreases when the economy is in recession.